Variables

Lag length

Hypothesized No. of CE(s)

Eigenvalue

Trace statistic

5% critical value

Probablity

lngdp, lnex, lnim

0

r = 0

0.869468

50.97790

24.27596

0.0000

r ≤ 1

0.468278

12.29128

12.32090

0.0506

r ≤ 2

0.015143

0.289923

4.129906

0.6514

lngdp, lnfdi

2

r = 0

0.578326

22.37637

20.26184

0.0252

r ≤ 1

0.364113

7.696477

9.164546

0.0943

lngdp, lnexse

0

r = 0

0.775406

28.40913

12.32090

0.0001

r ≤ 1

0.001755

0.033377

4.129906

0.8812

lngdp, lnimse

0

r = 0

0.317058

7.245565

15.49471

0.5493

r ≤ 1

1.74E−08

3.31E−07

3.841466

0.9997

lnind, lnex

1

r = 0

0.593392

17.02365

15.49471

0.0292

r ≤ 1

0.044817

0.825337

3.851466

0.3636

lnind, lnim

0

r = 0

0.343641

9.245916

15.49471

0.3431

r ≤ 1

0.063475

1.246006

3.841466

0.2643

lnsev, lnex, lnim

1

r = 0

0.819632

42.14957

35.01090

0.0074

r ≤ 1

0.404375

11.31992

18.39771

0.3622

r ≤ 2

0.104830

1.993343

3.841466

0.1580

lnsev, lnfdi

2

r = 0

0.670336

20.19002

15.49471

0.0091

r ≤ 1

0.075005

1.325429

3.841466

0.2496

lnsev, lnexse

0

r = 0

0.769840

28.12626

12.32090

0.0001

r ≤ 1

0.011284

0.215615

4.129906

0.6993

lnsev, lnimse

0

r = 0

0.278793

6.333253

15.49471

0.6561

r ≤ 1

0.006479

0.123502

3.841466

0.7253